Waves of young professionals flock to capital's outer boroughs
- 31st July 2015
- Renting Property News
Renters targeting properties in outer London attracted by community feel and improved transport links
Looking for a first place to live is not the easiest task, especially for those who are attracted by the job prospects in London, but who are unfamiliar with the capital.
What many first-time London renters quickly realise is that living in certain areas of the capital, such as the City, could cost them a minimum annual figure of £25,000 a year or £2,080 a month for a two bedroom flat.
With the prices of housing in premium areas in Central London rising, many are looking at options outside of popular areas such as Westminster, Shoreditch and Hoxton and broadening their search to Zones 2-3 such as Peckham, Homerton and Finsbury Park.
The rising popularity of cycling also makes properties close to the super highways more attractive to renters and buyers alike.
Stephen Ludlow, Chairman at ludlowthompson, explains: "First time renters, including young professionals and families, are increasingly choosing to rent property in Zone 2-3.
"Landlords, agents and builders are trying to match the demands of young professionals flooding to these areas, so we're seeing more residential developments and conversions in these areas"
With affordable prices, good transport links and a flourishing social life, properties in these areas have never been more desirable
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS